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TABLE OF CONTENTS
ORGANISATION DETAILS ........................................................................ 1
SINGAPORE NURSING BOARD’S MISSION & VISION ................................... 2
FOREWORD ......................................................................................... 3
BOARD MEMBERS ................................................................................. 4
KEY MANAGEMENT PERSONNEL ............................................................. 5
KEY HIGHLIGHTS ................................................................................ 6
REGISTRATION ..................................................................................... 8
EDUCATION ......................................................................................... 9
ADVANCED PRACTICE NURSE (APN) CERTIFICATION .............................. 10
COMPLAINTS ...................................................................................... 12
FINANCIAL REPORT ............................................................................ 13
SELECTED CHARACTERISTICS OF REGISTERED NURSES ............................. 20
SELECTED CHARACTERISTICS OF ENROLLED NURSES ............................... 30
SELECTED CHARACTERISTICS OF MIDWIVES ........................................... 31
SELECTED CHARACTERISTICS OF ADVANCED PRACTICE NURSES ................ 32
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ANNUAL REPORT 2010
ORGANISATION DETAILS
Board Secretary Ms Lo Mun Fun (from 3 January 2011)
Address 16 College Road, #01-01
College of Medicine Building,
Singapore 169854
Telephone 6478 5416
Fax 6353 3460
In the opinion of the Board, the annual report of the SINGAPORE NURSING
BOARD are drawn up so as to present fairly the state of affairs of the
SINGAPORE NURSING BOARD as at 31 March 2011.
On behalf of the Board,
Mrs Nellie Tang Muay Kiah Ms Pauline Tan Cheng Jee
Chairman
Registrar
November 2011 November 2011
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SINGAPORE NURSING BOARD
VISION
MISSION
World-Class Nursing for a Healthy Nation
To uphold professional nursing standards and honour the public trust
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FOREWORD
Firstly, we would like to record our deepest appreciation to Ms Boon Juag Fong, Executive
Secretary who retired on 1 September 2010. Her 10 years of dedicated service to the
Singapore Nursing Board (SNB) has seen SNB grow from a small regulatory entity to a dynamic
organisation it is today. Juag Fong helped to set up the Board’s regulatory functions in 2000
and enhanced SNB’s capability to respond appropriately to the key trends and issues impacting
regulation during her tenure. We will build on Juag Fong’s invaluable contributions to raise the
level of regulatory prowess and professional nursing standards to safeguard public safety and
trust.
The change of SNB’s Vision to “World-Class Nursing for a Healthy Nation” from the previous “A
Global Leader in Nursing Regulation” at its strategic planning meeting demonstrates the Board’s
commitment to high regulatory standards. The new vision statement was deemed to better
reflect SNB’s aspiration and desired outcome to be a world-class nursing regulatory body in
support of the Ministry of Health’s national objectives.
SNB co-hosted the 8th Western Pacific South East Asian Regions (WPSEAR) Nursing and Midwifery Regulatory Authorities meeting from 20 to 22 October 2010 for the second time, by special request from WPSEAR. Aside from keeping ourselves abreast of global trends in nursing regulation, SNB also shared on our evolving process of Advanced Practice Nurse Certification at the meeting.
At the organisation level, we work with the other professional boards on the amalgamation of
backend functions. This is an ongoing but necessary process to drive for better cost-efficiency
and administrative effectiveness. At the professional level, SNB will continue to cultivate
partnerships with the other nursing regulatory authorities to sharpen and improve our regulatory
capabilities. Overall, 2010 has been a good year.
Mrs Nellie Tang M K
Chairman
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BOARD MEMBERS
Appointed t i l l 30 April 2012
Position Name Designation
Chairman Mrs Nellie Tang Muay Kiah Chief Executive Officer
Parkway College
Registrar Ms Pauline Tan Cheng Jee Chief Nursing Officer
Ministry of Health
Ex-officio Members
Dr Lau Hong Choon Director
Manpower Standards & Development
Ministry of Health
Mrs Dolly Ong Kim Leng Principal
Zhonghua Secondary School
Members
Mr David Ang Chee Chim
Executive Director
Singapore Human Resources Institute
Ms Jessy Chang Yut Keng
Nursing Administrator
Mount Elizabeth Hospital
Ms Chen Yee Chui Assistant Chief Nursing Officer (till 31 Oct 2010)
Ministry of Health
Director Nursing (fm 1 Nov 2010)
National Healthcare Group Polyclinics
Dr Choo Li Nah Director, Communications & Corporate Relations Agri-Food & Veterinary Authority of Singapore
A/Prof. Terry S H Kaan Lecturer
Faculty of Law
National University of Singapore
Ms Clair KHOO Siok Hiang
Assistant Manager
School of Health Sciences
Nanyang Polytechnic
Ms Paulin Koh Deputy Director Nursing
KK Women's & Children's Hospital
A/Prof Lim Swee Hia Director Nursing
Outram Campus
Singapore General Hospital
Ms Lina Ma Yee Sheung
Dy Executive Director
Lions Home for the Elders
Ms Low Beng Hoi Director Nursing
Alexandra Hospital
Mr Tay Wei Sern Course Manager
School of Applied Health Sciences
ITE College East
Ms Wong Luan Wah Director
School of Health Sciences (Nursing)
Nanyang Polytechnic
Mr Yong Keng Kwang Deputy Director Nursing
Tan Tock Seng Hospital
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KEY MANAGEMENT PERSONNEL
DDeessiiggnnaattiioonn NNaammee
Registrar Ms Pauline Tan Cheng Jee
Executive Secretary
Ms Boon Juag Fong (till 31 August 2010)
Ms Pauline Tan Cheng Jee (covering from 1 September 2010 till 31 December 2010)
Assistant Executive Secretary Mrs Esther Lim
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KEY HIGHLIGHTS
Retirement of Executive Secretary
Ms Boon Juag Fong, Executive Secretary retired on 1 September 2010, after providing an
illustrious 10 years of service with the Singapore Nursing Board (SNB).
Ms Boon has made invaluable contributions to the work of SNB. She successfully set up SNB
as a statutory board in 2000 and under her leadership; SNB has evolved into the dynamic
organisation it is today. Ms Boon’s commitment and dedication were pivotal for the high level of
regulatory and professional nursing standards by SNB to safeguard public safety and trust.
Update of Singapore Nursing Board’s Vision
The SNB Board Members convened a Board Strategic Planning on 1 February 2010. Members
supported to move SNB’s vision to “World-Class Nursing for a Healthy Nation” from the previous
“A Global Leader in Nursing Regulation”. This is to better reflect SNB’s aspiration and desired
outcome of a world-class nursing regulatory body that supports the Ministry of Health’s
objectives. There is no change to SNB’s Mission “To Uphold Professional Nursing Standards
and Honour the Public Trust” and SNB’s Values of “Compassion, Commitment, Integrity,
Professional Excellence, Respect, Transparency”.
The Board also discussed the current challenges and trends influencing the regulation of nurses
and midwives locally and in the region, and set plans for the coming year.
8th Meeting of Western Pacific South East Asian Regions (WPSEAR) Nursing
and Midwifery Regulatory Authorities
SNB co-hosted the 8th WPSEAR meeting with the Thailand Nursing and Midwifery Council
(TNMC) from 20 to 22 October 2010. Chaired by the Australian Nursing and Midwifery Council,
partnering regulatory authorities also included the Australian Health Practitioner Regulation
Agency as well as the Nursing Council of New Zealand.
The 8th WPSEAR Meeting was a success, attended by a total of 45 delegates from 19 countries.
The theme of the meeting was “The Role of Regulators in Maintaining Public Safety”.
The meeting was supported with a $10,000 sponsorship from the Lee Foundation.
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The meeting shared key takeaways from the International Council of Nurses Triad meeting and
the International Confederation of Midwives Regulatory Committee meeting. Delegates gave
updates on their respective countries’ experiences in building nurses/midwives competency and
shared lessons learnt in developing their regulatory practices through education, maintaining
continuing competency and continuous improvement in public safety. Singapore presented a
paper on the “Evolving Process of Advanced Practice Nurse Certification”. The meeting
concluded with a communiqué to discuss the future directions of WPSEAR.
Our Overseas Visitors
Delegates from Indian Nursing Council
Chairman SNB hosted a visit by Dr Asha Sharma, Vice-President and Ms Bharati K. S.,
Assistant Secretary (Admin), Indian Nursing Council (INC) on 6 August 2010. Both sides
discussed how to further the negotiation process to recognise top Indian nursing schools for the
bilateral SNB-INC Mutual Recognition Agreement under the “Comprehensive Economic
Cooperation” between the Republic of India and Republic of Singapore.
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REGISTRATION
By the end of 2010, there were 29,340 Nurses and Midwives on the Register and Roll. These
numbers increased by 8.7% over the preceding year (compared with 10.7% between 2008 and
2009).
In 2010, a total of 2601 new nurses/midwives were registered, which is a 27.6% reduction of
new registrations compared with 2009. This is mainly due to a reduction of registrations of
foreigners (1217 nos. in 2010 compared with 2060 nos. in 2009).
Table: Number of New Registrations for 2010
Local* Foreign Total
Registered Nurse 916 720 1636
Enrolled Nurse 468 496 964
Registered Midwife 0 1 1
Total 1384 1217 2601
* Singaporeans and PRs
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EDUCATION
A total of 15 programmes were accredited in 2010.
The Education Committee continued its core work of accrediting and re-accrediting clinical areas as suitable clinical practice areas for pre-registration, pre-enrolment and post -registration programmes. Two new Hospitals were accredited for clinical education, namely Khoo Teck Puat Hospital & Jurong Health Alexandra Hospital.
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Programmes Accredited in 2010
Programme Title Institution Accredited till
Programmes for the purpose of Registration
1 Diploma in Nursing Nanyang Polytechnic Re-accredited till 1 Apr 2015
2 Bachelor of Science (Nursing)
Bachelor of Science (Nursing) (Honours)
National University of Singapore Re-accredited till 6 Jul 2015
Advanced Diploma/ Specialist Diploma
3 Advanced Diploma in Nursing (Critical Care) Parkway College of Nursing And Allied Health School of Nursing
Re-accredited till 16 Mar 2012
4 Advanced Diploma in Nursing (Perioperative) Parkway College of Nursing And Allied Health School of Nursing
Re-accredited till 17 Jan 2012
Post-registration Programmes (Bachelor)
5 Bachelor of Science (Nursing) Conversion Course for Registered Nurses
Curtin University of Technology Re-accredited till
24 Feb 2014
6 Bachelor of Nursing (Post-Registration) Griffith University in collaboration with Kaplan Higher Education Institution
Re-accredited till
8 Jun 2014
7 Bachelor of Nursing (Post-Registration) The University of Adelaide in collaboration with Ngee Ann- Adelaide Education Centre Pte Ltd
Re-accredited till
5 Jul 2014
8 BSc (Nursing) Registered Nurse Conversion Programme
Edinburgh Napier University in collaboration with CSM Academy
Accredited till
4 Jul 2013
Short Nursing Courses
9 Clinical Nursing Education National University Hospital NA
10 Invasive Cardiac Laboratory Nursing Programme
National University Hospital NA
11 Rehabilitation Nursing For Registered Nurses
Tan Tock Seng Hospital NA
12 Adult Orthopaedic Nursing National University Hospital NA
13 Critical Care Nursing Programme Part I National University Hospital NA
14 Medical Nursing National University Hospital NA
15 Peri-anaesthesia Nursing National University Hospital NA
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ADVANCED PRACTICE NURSE (APN) CERTIFICATION
During 2010, 9 additional APNs were certified. Hence at the end of 2010, there were 48 fully
certified APNs under the 4 Specialised Branches of Nursing namely Acute Care, Community,
Medical/Surgical and Mental Health.
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COMPLAINTS
During the year the Board investigated 4 complaints.
Case 1
A Registered Nurse submitted a fraudulent testimonial from a hospital located in South East
Asia. The Board decided to cancel her registration.
Case 2
An Enrolled Nurse was convicted of committing an obscene act with a 15 year old boy inside a
toilet at a Community Centre. He was placed on 15 months of supervised probation and
underwent psychiatric treatment. At the Complaints Committee hearing, he claimed that he did
the act out of foolishness and curiosity. He maintained that the incident and police investigation
had caused him to become depressed. He stated that he had learnt his lesson and would not
repeat the offence. The Board decided to censure him for his act of misconduct.
Case 3
A Registered Nurse took a patient out of a hospital to withdraw money from a bank. She
assisted the patient to fill up the cash withdrawal form for $1200. She loaned some of the
money from the patient. Subsequently, the patient had difficulty recovering the loan from her
and she denied borrowing money from the patient. During the Complaints Committee hearing,
she was defiant and was not remorseful. The Board decided to suspend her registration for 6
months.
Case 4
A Registered Nurse was convicted for criminal breach of trust for dishonestly misappropriating
$2000 from a patient to pay his gambling debts and cover his credit card outstanding amounts.
He was sentenced to 3 months imprisonment and had since repaid $2000 to the patient. At the
Complaints Committee hearing, he appeared sincerely remorseful and did not attempt to give
any excuse for his conduct. The Board decided to suspend his registration for 1 year.
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FINANCIAL REPORT
STATEMENT BY THE BOARD’S MANAGEMENT
In our opinion;-
(a) the financial statements set out on pages 16 to 28 are properly drawn up so as to give a
true and fair view of the state of affairs of Singapore Nursing Board as at 31 March 2011
and of the results, changes in accumulated surplus and cash flows of the Board for the
year then ended in accordance with the provisions of the Nurses and Midwives Act
(Chapter 209) (the “Act”) and Singapore Statutory Board Financial Reporting Standards.
(b) and at the date of this statement, there are reasonable grounds to believe that the board
will be able to pay its debts as and when they fall due.
The Board’s management has, on the date of this statement, authorised these financial
statements for issue.
On behalf of the Board,
Nellie Tang Muay Kiah (Mrs)
Chairman
Pauline Tan Cheng Jee
Registrar
Singapore, 6 July 2011
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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF
SINGAPORE NURSING BOARD
We have audited the accompanying financial statements of Singapore Nursing Board (the
“Board”) set out on pages 16 to 28, which comprise the balance sheet (statement of financial
position) as at 31 March 2011, and the statement of comprehensive income, statement of
changes in accumulated surplus and statement of cash flows for the year then ended, and a
summary of significant accounting policies and other explanatory notes.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial
statements in accordance with the Nurses and Midwives Act (Chapter 209) (the “Act”) and
Singapore Statutory Board Financial Reporting Standards prescribed by the Accountant-
General. This responsibility includes:
(a) designing, implementing and maintaining internal control relevant to the preparation and
fair presentation of financial statements that are free from material misstatement, whether
due to fraud or error;
(b) selecting and applying appropriate accounting policies; and
(c) making accounting estimates that are reasonable in the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with Singapore Standards on Auditing. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal controls relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
entity’s internal controls. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting estimates made by the Board’s
Management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF
SINGAPORE NURSING BOARD
(continued)
Opinion
In our opinion,
(a) the financial statements are properly drawn up in accordance with the Act and the
Singapore Statutory Board Financial Reporting Standards so as to give a true and fair
view of the state of affairs of the Board as at 31 March 2011 and the results, changes in
accumulated surplus and cash flows of the Board for the year ended on that date;
(b) the accounting and other records, and the registers required by the Act to be kept by the
Board have been properly kept in accordance with the provisions of the Act; and
(c) the receipt, expenditure and investments of monies and the acquisition and disposal of
assets by the Board during the year are in accordance with the provisions of the Act.
PAUL HOOI & CO.,
Public Accountants and
Certified Public Accountants
Singapore, 13 July 2011
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STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2011
Notes 2011
$
2010 $
ACCUMULATED SURPLUS 2,590,594 2,610,756
REPRESENTED BY:
NON-CURRENT ASSETS
Property, plant and equipment 4 219,834 215,724
CURRENT ASSETS
Fees receivable 16,930 11,740
Other receivables 5 86,538 77,921
Fixed deposits with financial institution 6,7 2,037,293 2,024,000
Cash and bank balances 7 1,111,720 1,125,404
3,252,481
3,239,065
CURRENT LIABILITIES
Other Payables 9 48,061 59,857
Advance practising certificate fees received
833,660
770,026
Provision for contribution to consolidated fund
8
-
14,150
881,721
844,033
NET CURRENT ASSETS
2,370,760
2,395,032
TOTAL NET ASSETS
2,591,729
2,610,756
The accompanying notes form an integral part of these financial statements.
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STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2011
Notes 2011
$
2010
$
INCOME
Application fees 128,640 113,790
Registration fees 76,760 63,910
Enrolment income 23,980 24,240
Practising certificate fees 1,109,186 1,019,593
Re-registration fees 400 360
Replacement charges 11,400 8,800
Service charges 82,727 74,646
Interest on fixed deposit 13,298 16,431
Late charges 29,640 25,800
Other income 24,092 360
1,500,123 1,347,930
LESS: EXPENDITURE
Allowance for unutilised leave 1,135 6,532
Audit fees 4,000 7,055
Central provident fund contributions 90,027 52,549
Committee expenses 327 240
Computer operation and maintenance 167,913 144,750
Depreciation on property, plant and equipment 4 38,556 25,943
Legal expenses 41,326 19,489
Medical fees 1,627 1,045
Miscellaneous expenses
Mutual recognition arrangement expenses
37,467
185
18,080
-
Office equipment maintenance
Office rental
5,330
165,005
3,043
156,121
Postages and courier 27,730 19,933
Printing and stationery 29,286 28,180
Refreshments 299 231
Renovation expenses - 61,589
Staff salaries and bonuses 875,275 674,645
Staff welfare 3,581 3,615
Telephone and utilities 20,017 22,516
Training and development 8,920 16,629
Transport expenses 2,279 2.510
1,520,285 1,264,695
(Deficit)/Surplus before contribution to consolidated fund
(20,162)
83,235
Contribution to consolidated fund
- current year - ( 14,150 )
- under-provision in prior year - 3,142
- ( 17,292 )
Total comprehensive (Loss)/Income for the year (20,162) 65,943
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The accompanying notes form an integral part of these financial statements.
STATEMENT OF CHANGES IN ACCUMULATED SURPLUS FOR THE YEAR ENDED 31
MARCH 2011
Accumulated surplus
$
Balance as at 31 March 2009
2,544,813
Total comprehensive income for the year 65,943
Balance as at 31 March 2010
2,610,756
Total comprehensive loss for the year (20,162)
Balance as at 31 March 2011
2,590,594
The accompanying notes form an integral part of these financial statements.
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STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2011
Notes 2011 $
2010 $
CASH FLOWS FROM OPERATING ACTIVITIES: (Deficit)/Surplus before contribution to consolidated fund
(20,162) 83,235
Adjustments for:
Allowance for unutilised leave 1,135 6,532 Depreciation on property, plant and equipment 4 38,556 25,943 Interest income (11,400) (16,431)
28,291
16,044
Operating surplus before working capital changes
8,129
99,279
(Increase)/decrease in receivables (13,802) (33,100) (Decrease)/increase in payables (12,931) (76,530) Increase in advance practising certificate fees received 63,634 50,907
Changes in working capital
36,901
(58,723)
Contribution to consolidated fund
45,030
(14,150)
40,556
(56,554)
Interest received 11,395 24,000
Net cash (used in)/from operating activities
42,275
8,002
CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant & equipment
4
(42,666)
(241,051)
Net cash used in investing activities Net decrease in cash and cash equivalents
(42,666)
(241,051)
(391)
(233,049) Cash and cash equivalents at beginning of the year 3,149,404 3,382,453
Cash and cash equivalents at end of the year
7
3,149,013
3,149,404
The accompanying notes form an integral part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED TO 31 MARCH 2011
1. GENERAL INFORMATION
The Singapore Nursing Board (the "Board") is domiciled and set up in the Republic of Singapore under the Nurses and Midwives Act (Chapter 209). Its registered address is located at 16 College Road, #01-01 College of Medicine Building, Singapore 169854 and its operation office is located at 81 Kim Keat Road, #08-00, Singapore 328836.
The principal activities of the Board are as listed in Section 8 of The Nurses and Midwives Act (Chapter 209).
2. SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of Preparation
The financial statements have been prepared in accordance with Statutory Board Financial Reporting Standards (SB-FRS). The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies below.
The financial statements are presented in Singapore Dollars (SGD or S$) and all values are rounded to the nearest one dollar.
2.2 Changes in accounting policies
The accounting policies have been consistently applied by the Board and are consistent with those used in the previous financial year, except that during the year the Board has adopted the new and revised SB-FRS that are mandatory from the effective date in the relevant SB-FRS.
At the reporting date, the Board has not adopted the following SB-FRSs that have been issued but not yet effective.
Effective for annual periods
beginning on or after
Improvements to SB-FRSs (2010) 1 January 2011
2.3 Property, Plant and Equipment
All items of property, plant and equipment are initially recorded at cost. The cost of an item of property, plant and equipment is recognised as an asset if, and only if, it is probable that future economic benefits associated with the item will flow to the Board and the cost of the item can be measured reliably.
Property, plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any.
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2. SIGNIFICANT ACCOUNTING POLICIES (cont’d)
2. 3 Property, Plant and Equipment (cont’d)
Depreciation is calculated on the straight line basis so as to write off the cost, less the residual value, of the assets over their estimated useful lives. The estimated useful lives are as follows:
Furniture, fixtures and fitting 8 years Office equipment 5 years Computer systems 3 years Computer and communication systems 5 years
Fully depreciated assets are retained in the financial statements until they are no longer in use.
The residual values, useful lives and depreciation methods of property, plant and equipment are reviewed at each financial year-end. The effect of any revision are recognized in profit and loss when the change arises.
An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the assets is included in profit or loss in the year the asset is derecognized.
2. 4 Receivables
Receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less allowance for impairment. Short-term receivables are not discounted.
The Board assesses at each reporting date whether there is any objective evidence that financial asset is impaired.
When there is objective evidence that the Board will not be able to collect all amounts due according to the original terms of the receivables, an impairment loss is recognised. The amount of the impairment loss is measured as the difference between the carrying value of the receivable and the present value of the estimated future cash flows discounted at the original effective interest rate. The carrying value of the receivable is reduced through the use of an allowance account. The amount of the loss is recognised in profit or loss.
When the receivable becomes uncollectible, the carrying value of the impaired receivable is reduced directly or if an amount was charged to the allowance account, the amount charged to the allowance account are written off against the carrying value of the receivable.
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2. SIGNIFICANT ACCOUNTING POLICIES (cont’d)
2. 4 Receivables (cont’d)
If in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss shall be reversed to the extent that the carrying value of the asset does not exceed its amortised cost at the reversal date. The amount of reversal is recognized in the profit and loss.
2. 5 Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand, cash at bank and short-term highly liquid investments that are readily convertible to known amounts of cash and which are subject to insignificant risks of changes in value.
2. 6 Other Payables
Payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Short-term payables are not discounted.
2. 7 Income Tax
The income of the Board is exempted from income tax under Section 13(1)(e) of the Singapore Income Tax Act.
2. 8 Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefit will flow to the Board and the revenue can be reliably measured. The following specific revenue recognition criteria must also be met before revenue is recognized:
Rendering of Service
Revenue from practising fees, which is levied yearly on nurses and midwives, is recognised in the financial statements on accrual basis. Other types of income are recognised on cash basis.
Interest Income
Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable.
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2. SIGNIFICANT ACCOUNTING POLICIES (cont’d)
2. 9 Employee Benefits
Defined Contribution Plans
The Board makes contributions to the state provident fund (Central Provident Fund). Such contributions are recognised as compensation expenses in the same period as the employment that gave rise to the contributions.
Short-term Compensated Absences
Employee entitlements to annual leave are recognized when they accrue to employees. A provision is made for the estimated liability for employee entitlements to annual leave as a result of services rendered by employees up to the balance sheet date.
2. 10 Impairment of Non-Financial Assets
The carrying amounts of the Board's non-financial assets subject to impairment are reviewed at each reporting date to determine whether there is any indication of impairment. If such indication exists, the asset's recoverable amount is estimated. An impairment loss is recognised whenever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the higher of the asset's fair value less cost to sell and its value in use. The value in use is the present value of estimated future cash flows expected to be generated from the continuing use of the asset and from its disposal at the end of its useful life.
An impairment loss on a non-revalued asset is recognised in profit or loss. An impairment loss on revalued asset is recognised in other comprehensive income to the extent that the impairment loss does not exceed the amount in the previous revaluation. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount or when there is an indication that the impairment loss recognised for the asset no longer exists or decreases. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised.
2. 11 Provisions
Provisions are recognised when the Board has a present legal or constructive obligation, where as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settled the obligation, and a reliable estimate of the amount of obligation can be made.
2. 12 Operating Leases
Leases whereby the lessor effectively retains substantially all the risks and benefits of ownership of the leased item are classified as operating leases.
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2. SIGNIFICANT ACCOUNTING POLICIES (cont’d)
2. 12 Operating leases (cont’d)
payments are recognised as an expense in the statement of comprehensive income on a straight line basis over the lease term.
3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES
The preparation of the financial statements in conformity with SB-FRSs requires management to exercise judgements and requires the use of estimates and assumptions. These judgements affect the application of Board’s accounting policies. The use of estimates and assumptions affect the reported amounts of assets, liabilities, income and expenses and disclosures made. They are assessed on an on-going basis and are based on experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.
3.1 Key Sources of estimation uncertainty
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Impairment of non-financial assets
The Board assesses whether there are any indicators of impairment for all non-financial assets at each reporting date. Other non-financial assets are tested for impairment when there are indicators that the carrying amounts may not be recoverable.
When value in use calculations are undertaken, management must estimate the expected future cash flows from the asset or cash-generating unit and choose a suitable discount rate in order to calculate the present value of those cash flows.
Impairment of receivables
The Board assesses at each reporting date whether there is any objective evidence that a financial asset is impaired. To determine whether there is objective evidence of impairment, the Board considers factors such as the probability of insolvency or significant financial difficulties of the debtor and default or significant delay in payments.
Where there is objective evidence of impairment, the amount and timing of future cash flows are estimated based on historical loss experience for assets with similar credit risk characteristics.
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4. PROPERTY, PLANT AND EQUIPMENT
Furniture, fixtures
and fitting $
Office
equipment $
Computer systems
$
Computer and communication
systems $
Total $
Cost
At 1 April 2009 1,111 7,525 57,026 - 65,662
Additions 216,767 2,225 - 22,059 241,051
At 31 March 2010
217,878
9,750
57,026
22,059
306,713
Additions 3,089 - 8,110 31,467 42,666
At 31 March 2011
220,967
9,750
65,136
53,526
349,379
Accumulated depreciation
At 1 April 2009 987 7,033 57,026 - 65,046
Additions 22,140 862 - 2,941 25,943
At 31 March 2010
23,127
7,895
57,026
2,941
90,989
Additions 27,480 445 975 9,656 38,556
At 31 March 2011
50,607
8,340
58,001
12,597
129,545
Carrying Amount
At 31 March 2011 170,360 1,410 7,135 40,929 219,834
At 31 March 2010
194,751
1,855
-
19,118
215,724
5. OTHER RECEIVABLES
6. FIXED DEPOSITS WITH FINANCIAL INSTITUTIONS
All fixed deposits mature within one year and earn interest at rates ranging from 0.5900% to 0.6525% (2010: 0.6525% to 0.6575%) per annum.
2011
$
2010
$
Sundry receivables 19,131 12,936 Interest receivable 8,257 8,252 Deposit 37,390 37,390 Prepayments 21,760 19,343
86,538
77,921
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7. CASH AND CASH EQUIVALENTS
2011 $
2010 $
Fixed deposits (note 6) 2,037,293 2,024,000
Cash and bank balances 1,111,720 1,125,404
3,149,013
3,149,404
8. CONTRIBUTION TO THE CONSOLIDATED FUND
This represents the contribution to be made to the Consolidated Fund in accordance with the Statutory Corporations (Contributions to Consolidated Fund) Act (Chapter 319A). The contribution is based on 17% (2010: 17%) of the net surplus of the Board.
9. OTHER PAYABLES
2011
$
2010 $
Allowance for unutilised leave 7,667 6,532 Sundry payables 32,878 26,165 Accruals 7,516 27,160
48,061
59,857
Payables are unsecured, non-interest bearing and are normally settled within 30 days or on demand.
10. OPERATING LEASE EXPENSES AND COMMITMENTS
(a) Operating lease expenses incurred during the year amounted to $165,005 (2010: $70,104).
(b) As at the financial position date, the Board has the following commitments under cancellable operating leases where the Board is the lessee:
2011 $
2010 $
Payable within 1 year 149,559 220,428 Payable after 1 year but not later than 5 years 12,463 267,784
162,022
488,212
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The above operating lease commitments are based on known rates as at the date of this report and do not include any revision in rates which may be determined by the lessor.
11. FINANCIAL RISK MANAGEMENT
The Board is exposed to minimal financial risks arising from its operations and the use of financial instruments. The key financial risks are credit risk, liquidity risk and interest rate risk. Management reviews and agrees on policies for managing each of these risks and they are summarised below:
Credit risk
Credit risk is the potential risk of financial loss resulting from the failure of counterparties to settle their financial and contractual obligations to the Board when they fall due. The Boards exposure to credit risk arises primarily from its financial assets which consist of cash and cash equivalents and fees receivable.
Management regularly monitors the Board’s exposure to credit risks on an ongoing basis. The Board minimizes credit risks by dealing exclusively with counter party which high credit ratings. Cash and cash equivalents are placed with a financial institution which are regulated and with good credit ratings.
As at the reporting date, there was no significant concentration of credit risk. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the statement of financial position.
There are no financial assets that are past due or impaired as at the statement of financial position date.
Liquidity risk
Liquidity risk is the risk that the Board will encounter difficulty in meeting financial obligations as they fall due.
The Board monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate to finance the Board's operations and to mitigate the effects of fluctuations in cash flows.
All of the financial liabilities of the Board are either payable on demand or mature within one year from the statement of financial position date.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of the Board’s financial instruments will fluctuate because of the changes in market interest rates. The Board’s exposure to interest rate risk arises primarily from fixed deposits placed with a financial institution.
The Board manages its interest rates risks by placing such fixed deposits over different maturity periods with optimal rates of return.
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12. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
The fair value of a financial instrument is the amount at which the instrument could be exchanged or settled between knowledgeable and willing parties in an arm’s length transaction, other than in a forced or liquidation sale.
The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value.
Cash and cash equivalents, receivables and payables. The carrying amounts of these balances approximate their fair values due to the short-term nature of these balances.
13. RESERVE MANAGEMENT
The primary objective in the management of the Board's reserve is to ensure that it maintains a strong and healthy accumulated surplus so as to enable and support the Board in carrying out its statutory duties under the Nurses and Midwives Act.
The Board monitors its cash flow and overall liquidity position on a continuous basis, taking into consideration the prevailing and projected operating income and expenditure, and other financial obligations, including projected capital expenditure.
The Board is not subject to externally imposed reserve requirements and there were no changes to the Board's approach to reserve management during the year.
14. AUTHORISATION OF FINANCIAL STATEMENTS
The financial statements of the Board for the year ended 31 March 2011 were authorized for issue in accordance with a Board member’s resolution dated 13 July 2011.
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SELECTED CHARACTERISTICS OF REGISTERED NURSES
2008 2009 2010
TOTAL 17881 19733 21575
SEX
Male 1458 1596 1763
Female 16423 18137 19812
ETHINIC GROUP
Chinese 11631 12275 12889
Malay 2012 2214 2407
Indian 1884 2115 2338
Others 2354 3129 3941
ACTIVITY STATUS
Working Full-time 13910 15524 17291
Working Part-time 859 841 843
Not Working/Unknown 2224 2432 2499
Doing Non-nursing work 888 936 942
EMPLOYMENT
Public Sector 10113 11534 12994
Private Sector 4656 4831 5140
CITIZENSHIP
Singaporean/Permanent Resident 16038 17227 18176
Malaysian 324 374 468
Chinese (PRC) 505 553 578
Filipino 672 1158 1760
Indian 97 137 220
Myanmar 74 105 165
Others 171 179 208
MARITAL STATUS
Single 8045 9337 10850
Married 9440 9968 10281
Divorced/Widowed/Others 396 428 444
AGE
Median Age (years) 36 36 35
Average Age (years) 38 38 38
Under 25 yrs 2487 2821 3213
25 - 34 yrs 6205 7033 7798
35 - 44 yrs 3826 4260 4673
45 - 54 yrs 2882 2894 2925
55 - 59 yrs 1013 1112 1233
Above 60 yrs 1468 1613 1733
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SELECTED CHARACTERISTICS OF ENROLLED NURSES
2008 2009 2010
TOTAL 6006 6765 7478
SEX
Male 372 438 514
Female 5634 6327 6964
ETHINIC GROUP
Chinese 1814 1952 1992
Malay 1459 1670 1806
Indian 1217 1456 1595
Others 1516 1687 2085
ACTIVITY STATUS
Working Full-time 4748 5383 6085
Working Part-time 228 220 197
Not Working/Unknown 833 958 984
Doing Non-nursing work 197 204 212
EMPLOYMENT
Public Sector 3488 4043 4525
Private Sector 1488 1561 1757
CITIZENSHIP
Singaporean/Permanent Resident 4589 4873 5025
Malaysian 40 40 40
Chinese (PRC) 120 214 256
Filipino 734 852 1188
Indian 269 477 564
Myanmar 237 292 385
Others 17 17 20
MARITAL STATUS
Single 3058 3747 4389
Married 2802 2860 2936
Divorced/Widowed/Others 146 158 153
AGE
Median Age (years) 33 32 30
Average Age (years) 35 34 35
Under 25 yrs 1436 1581 1622
25 - 34 yrs 1907 2402 2926
35 - 44 yrs 1354 1369 1441
45 - 54 yrs 718 775 846
55 - 59 yrs 140 169 191
Above 60 yrs 451 469 452
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SELECTED CHARACTERISTICS OF MIDWIVES
2008 2009 2010
TOTAL 322 294 287
SEX
Male - - - Female 322 294 287
ETHINIC GROUP
Chinese 252 230 222 Malay 27 23 23 Indian 18 17 17 Others 25 24 25
ACTIVITY STATUS
Working Full-time 154 137 132
Working Part-time 36 32 30
Not Working/Unknown 120 113 111 Doing Non-nursing work 12 12 14
EMPLOYMENT
Public Sector 110 98 94 Private Sector 80 71 68
CITIZENSHIP
Singaporean/Permanent Resident 311 289 281
Malaysian 3 0 0 Chinese (PRC) 0 0 0
Filipino 7 4 3 Indian 0 0 0
Myanmar 0 0 0 Others 1 1 3
MARITAL STATUS
Single 55 50 48 Married 250 227 224
Divorced/Widowed/Others 17 17 15 AGE
Median Age (years) 59 59 64 Average Age (years) 58 58 62
Under 25 yrs 0 0 0 25 - 34 yrs 13 11 9 35 - 44 yrs 9 9 11 45 - 54 yrs 50 32 20 55 - 59 yrs 51 61 60
Above 60 yrs 199 181 187
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SELECTED CHARACTERISTICS OF ADVANCED PRACTICE NURSES
2008 2009 2010
TOTAL 17 37 48
SEX
Male 1 2 2
Female 16 35 46
ETHINIC GROUP
Chinese 13 32 40
Malay 2 2 4
Indian 1 2 3
Others 1 1 1
ACTIVITY STATUS
Working Full-time 17 37 48
Working Part-time 0 0 0
Not Working/Unknown 0 0 0
Doing Non-nursing work 0 0 0
EMPLOYMENT
Public Sector 15 35 46
Private Sector 2 2 2
CITIZENSHIP
Singaporean/Permanent Resident 16 36 47
Others 1 1 1
MARITAL STATUS
Single 7 13 21
Married 9 23 26
Divorced/Widowed/Others 1 1 1
AGE
Median Age (years) 40 38 40
Average Age (years) 41 39 41
Under 25 yrs 0 0 0
25 - 34 yrs 4 12 11
35 - 44 yrs 9 18 23
45 - 54 yrs 3 6 12
55 - 59 yrs 1 1 2
Above 60 yrs 0 0 0